According to FutureWise analysis the market for Oncology Information System in 2023 was US$ 2.7 billion, and is expected to reach US$ 5.05 billion by 2031 at a CAGR of 8.10%.
Oncology information system (OIS) is used to manage the data of cancer patient treatment programmes, treatments plans, treatment deliveries, treatment summaries and diagnostic results. The OIS will encircle the information exchange with other departments within the health care enterprise and it must be connected to other hospitals information system. It will assist in the evaluation and improvement of therapy from information on cancer stage and treatment. OIS accredits improved medical safety and professional effectiveness. There are various resources like paper-based (hospital registries), network etc., which will help to maintain oncology information at healthcare enterprise.
The increasing demand for IT services due to increasing prevalence is expected to fuel the growth of oncology information systems market. It is advantageous over traditional methods of data handling validations and it further decreased the manual effort and automated the process. Along with this, the oncology information system has huge applicability in healthcare settings for better management of cancer patients. Further, changing healthcare policies to encourage smart technologies led to robust growth of oncology information systems market. Additionally, it improves patient care and helps in better management of cancer patients. All these factors led to significant growth of burgeoning growth of oncology information systems market.
Global Oncology information system market is dominated by North America and Europe due to high penetration and well-established healthcare systems. Further, they are expected to remain dominant throughout the forecast period. The Asia Pacific is expected to create a lot of opportunities for manufacturers due to the high patient population. Latin America and Rest of World Oncology information systems market are expected to witness slow growth over the forecast period due to slow adoption.Oncology Information Systems market is expected to witness new players during the forecast period due to the increasing importance of information systems in data management.